Wanted to update readers on two new signal changes that triggered after the close today. You'll see that the NDX DecisionPoint Scoreboard has logged yet another change for the NDX. This time a ST Trend Model BUY signal.
The NDX triggered an ST Trend Model BUY signal today when the 5-EMA crossed below the 20-EMA. Not surprising given the rally that the technology sector had today. We're still waiting on the PMO BUY signal to return on the NDX.
Additionally, the Consumer Discretionary ETF (XLY) triggered an Intermediate-Term Trend Model BUY signal as the 20-EMA crossed above the 50-EMA. We've been watching this sector improving and with the bullish ascending triangle formation, I would expect this rally to continue with a breakout and execution of the pattern.
Helpful DecisionPoint Links:
DecisionPoint Shared ChartList and DecisionPoint Chart Gallery
Price Momentum Oscillator (PMO)
Swenlin Trading Oscillators (STO-B and STO-V)
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
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